Arthur Hayes, co-founder of crypto-derivatives exchange BitMEX, said in a blog post published Wednesday that he expects Bitcoin to climb to about $250,000 and Ether to reach roughly $10,000 by the end of 2025. The projections, issued midway through the year, mark one of the most bullish outlooks among high-profile digital-asset investors. Hayes wrote that an anticipated surge in ERC-20 token issuance could create what he called a “market maelstrom” that propels Ether higher, while broader retail enthusiasm and limited new supply could push Bitcoin to a quarter-million dollars. The former trader cautioned that the targets reflect his personal views rather than investment advice.